Africa’s health-focussed Medical Credit score Fund to assist healthcare suppliers throughout sub-Saharan Africa
Medical Credit score Fund (MCF), Africa’s solely debt facility devoted to the well being sector has accomplished a €32.5 million fundraise for its second MCF II fund. This second financing spherical will increase its presence and assist healthcare suppliers throughout sub-Saharan Africa the place the main focus is totally on sub-Saharan healthcare companies akin to malaria prevention and remedy, maternal and childcare. This spherical caters to increasing the ‘Money Advance’ a totally digital mortgage product that has grown exponentially over the previous two years.
The funding spherical was anchored by the Dutch Ministry of International Affairs that offered the primary €7.5 million fairness funding this January to cater for the mortgage calls for within the peak of Covid-19. Additionally taking part on this funding spherical are CDC Group €10 million, FMO €7.5 million, Swedfund €5 million, and Philips €2.5 million.
MCF will additional profit from a assure facility by the U.S. Worldwide Growth Finance Company initiated by the Well being Finance Coalition whereas supporting U.S. President’s Malaria Initiative and USAID’s Middle for Innovation & Influence. MCF makes use of catalytic capital via blended finance from each private and non-private sources whereas concentrating on €80 million in development within the coming years.
MCF II qualifies within the 2X Problem the place its funding enhances entry to capital for healthcare companies which are gender good. The 2X Problem is a dedication by G7 DFIs to mobilize capital with the intent to assist girls companies in creating markets entry management alternatives, high quality employment, and services and products enhancing their financial participation and inclusion.